Grain price: Slight alleviation in wheat…concerns for corn and soybean yields

Grain price: Slight alleviation in wheat…concerns for corn and soybean yields

Image source: Delta Farm Press

Grain prices aren’t relocating anywhere fast, though total from a Australian collect competence let Irish farmers feel rather improved about a tough year left by.

Around a world

In Australia farmers continue to cut into their wheat crops. Tasmania is one segment still harvesting away.

Australia suffered from serious drought this season; however, some regions were worse influenced than others.

Crops were planted in dry conditions and perceived tiny amounts of rainfall during a commencement of Jul and a finish of August.

In improved news, reports from a Grain Industry Association of Western Australia indeed reported a nearby record harvest. The western collect is approaching to be only brief of a 2016 record of 18.16 million tonnes.

More drought

There are concerns over dirt dampness levels in Brazil. The dry deteriorate is on a approach and foresee rainfall is next average, as has been a box with new rain. This is a regard for both a corn and soybean crops.

AgriLand had hoped to move United States Department of Agriculture (USDA) supply and direct estimates in a final few weeks. The monthly total were due out on Jan 12, though a supervision shutdown in a US means information is not apropos available.

LIFFE

There wasn’t most transformation in LIFFE wheat this week. A clever argent hold prices behind as tellurian prices climbed somewhat.

Starting a week during £169.00/t (€195.71/t) a Jan cost changed to £171.20/t (€198.25/t) by tighten of business on Thursday (January 25).

MATIF

MATIF wheat wasn’t most some-more exciting. Opening a week during €205.00/t a Mar cost strike €205.75/t on Wednesday (January 23) and had climbed to €206.50/t by Thursday (January 24) evening. By tighten of business on Friday (January 25) a MATIF cost for Mar was during €205.75/t.

CBOT

Chicago Board of Trade (CBOT) wheat showed signs of alleviation this week. The Mar cost strike 526.00c/bu (€169.53/t) on Wednesday (January 23). This is a top a Mar cost has reached in over a month. It sealed during 532.75c/bu (€171.78/t) on Dec 18, though struggled to find any capillary of form given then.

However, by a weekend CBOT wheat had forsaken behind and finished during 520.00c/bu (€167.60/t) on Friday (January 25) evening.

Article source: https://www.agriland.ie/farming-news/grain-price-slight-improvement-in-wheat-concerns-emerge-for-corn-and-soybean-yields/

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